A takeover deal between Swindon Town FC and Portuguese-based Best Holdings has fallen through.

A statement on the club website said it had been unable to conclude the deal with Best Holdings but a new investment partner had been secured.

The club said the un-named investor had paid cash to HM Revenue and Customs to stop legal action in the short term.

The club also appealed to fans to "remain positive" while contracts with the new investors were being drawn up.

Protest planned

Earlier this week some supporters held an emergency meeting about the club's future.

At the open forum, held on Monday, fans voted to protest at the weekend's game.

Chairman of the Swindon Town Supporters club Roger Bunce told BBC Radio Wiltshire that something had to happen: "If we haven't paid the Revenue we might not have a club in a fortnight."

Last week, some 150 fans protested at the club's home game against Cheltenham Town.

Andrew Hansell, vice chairman of TrustSTFC which was behind the protest, welcomed the club's statement.

He said: "It's good news in the sense that they'll still be talking to someone and that someone is interested, but bad news in the sense that it's still up in the air and still no further forward in terms of knowing whether there'll still be a Swindon Town football club in the future"